Three Cryptocurrency Stocks over a Shiba Inu

Three cryptocurrency stocks over a Shiba Inu in a heartbeat. No investment vehicle has produced more remarkable returns. Than the stock market for more than a century. While stocks may not always outperform bonds, gold, or real estate, no other asset comes close. To matching stocks’ long-term average yearly returns.

However, cryptocurrencies have given the stock market a run for its money over the last decade. Shiba Inu is the most recent of a series of digital currencies that have provided incredible profits. In a short period of time (CRYPTO:SHIB). As of Oct. 8, Shiba Inu had surged more than 260 percent in seven days. And had climbed into the top 20 cryptocurrencies by market cap.

Shiba Inu coin: All bark, no bite

Shiba Inu, as the name suggests, is a digital meme coin based on the Japanese dog breed of the same name. It’s also being marketed as a “Dogecoin (CRYPTO:DOGE) killer.” In 2013, Dogecoin was created as a joke that blended two of the most popular topics at the time. Cryptocurrency and a Shiba Inu dog meme. However, with the help of celebrities like Elon Musk and Mark Cuban. Dogecoin was able to gain remarkable traction earlier this year, sending its token price into the sky. At least based on what we’ve seen in recent days. Crypto investors believe Shiba Inu will have the same communal effect.

The vast majority of cryptocurrencies, on the other hand. They share a common theme: they offer no competitive benefits and serve no real-world functions.

For Example

For instance, it’s no secret that I despise Dogecoin. Its transaction costs are far higher than those of most popular cryptocurrencies. And transactions on its blockchain are frequently processed and validated. At a slower rate than those of many of its competitors. If that wasn’t enough, after eight years, just 1,714 establishments around the world accept Dogecoin as a form of payment.

 In comparison, the United States has 32 million firms and the world has well over 500 million entrepreneurs. Outside of a cryptocurrency market, Dogecoin has absolutely no use.

But if you think that’s awful, wait till you hear about Shiba Inu’s application.According to internet business directory Cryptwerk, just 43 businesses globally accept Shiba Inu. As a method of payment, despite its approximately $11 billion market worth.

There’s also a lack of long-term conviction. The average investor holding duration in Shiba Inu is (drumroll)… Six days, according to crypto exchange Coinbase.

Send Shiba Inu to the doghouse and buy this crypto stock trio

Instead of risking your hard-earned cash on what amounts to a dart toss powered by Elon Musk’s tweets. I recommend investing in the three cryptocurrency stocks listed below.

Square

Square, a fintech business, is a bitcoin stock I already own and would gladly buy more of (NYSE:SQ).

Square’s seller ecology has been solid for over a decade. The seller ecosystem helps merchants prosper by providing POS equipment. Also includes data analytics, financing, and other resources. In 2012, its platform processed $6.5 billion in payments. Square’s GPV may reach $150 billion by 2021.

Square’s seller environment has long favored smaller retailers, but it’s now appealing to larger firms. Businesses with yearly GPV of $125,000 or more accounted for 65% of GPV in the June quarter. Increased sales and profits should result from increased merchant fees.

The pay-to-pay digital payments platform Cash App gives Square its crypto ties. Cash App’s monthly active users (MAU) more than quadrupled in three years. From 7 million to 36 million. Similarly, gross profit per MAU (up to June 2021) has doubled in two years.

The Square Cash App allows Square to earn money from merchant fees and bank transfers. And investments like Bitcoin trading and exchange. Square generated $2.72 billion in net sales from Bitcoin trading/exchange in the second quarter.

Nvidia

Despite its tremendous rise, Nvidia (NASDAQ:NVDA) is another crypto stock I’d purchase before Shiba Inu.

GeForce graphics processing units (GPU) are Nvidia’s most well-known products. With the pandemic driving PC sales and gaming driving demand for high-performance GPUs. Nvidia’s top sector has grown double-digits.

This component also drives the bitcoin mining mania. Cryptocurrency miners utilize powerful computers to solve complicated mathematical calculations. Solving these equations verifies a block of transactions on a blockchain. The first crypto miner to validate a block receives a block reward in the digital currency being validated. Although crypto-focused GPUs are a small percentage of overall sales, miners’ hunger for GPUs has been insatiable.

Shopify

Rather of the trendy Shiba Inu coin. I’d choose the cloud-based e-commerce platform Shopify (NYSE:SHOP).

Unlike other firms, Shopify was at the right place at the right time during the coronavirus outbreak. Businesses already used Shopify to improve their online retail presence before the outbreak. But when widespread lockdowns happened, internet retail demand surged. En a nutshell, Shopify has yet to observe a decline in online During the June quarter. The network moved over $42 billion in goods.

Shopify’s crypto ties come from allowing businesses to accept various digital currencies as payment. Although testing began in 2019, Shopify only allowed merchants to take cryptocurrencies last year. While it’s unknown how much of an immediate impact this acceptance. Will have on Shopify’s growth potential, this new option is a welcome addition.

Also consider the long-term potential for internet commerce. eMarketer predicts over $6.4 trillion in global online retail sales by 2024, up from $4.28 trillion in 2020. In a few years, online sales will account for approximately 22% of global revenues. Shopify stands to gain a lot from this inevitable shift.

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